Problem

Calculate retained earnings From the following data, calculate the retained earnings balan...

Calculate retained earnings From the following data, calculate the retained earnings balance as of December 31, 2009:

Retained earnings, December 31, 2010

$841,200

Decrease in total liabilities during 2010

183,200

Gain on the sale of buildings during 2010

64,400

Dividends declared and paid in 2010

18,000

Proceeds from sale of common stock in 2010

197,600

Net income for the year ended December 31, 2010

90,400

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